§ Mr. SimpsonTo ask the Secretary of State for Education what initiatives have been undertaken to secure private finance for her Department's projects. [22319]
§ Mr. Robin SquireThe Department does not have direct responsibility for education sector projects. Its role is to encourage the funding bodies, local education authorities and education institutions to take advantage of the private finance opportunities available.
The Department published its booklet, "Education means business", copies of which were placed in the Library. This booklet was sent to all maintained schools, colleges and universities as well as banks, accountancy firms, construction companies and other private sector enterprises that had expressed an interest in PFI.
On 23 March the Department, together with the Higher Education Funding Council for England, hosted a conference at the Queen Elizabeth II conference centre about private finance in higher education. This very successful conference—at which my right hon. Friend gave the key note speech—was attended by representatives of higher education institutions and the private sector.
The Further Education Funding Council is now organising a similar conference for the further education sector in late September. For LEAs, the Department is organising a series of seminars to discuss harriers to private finance and ways by which they might be overcome, and visiting a number of individual authorities. One of the most significant steps that we are taking to secure private finance in the grant-maintained sector is to remove the barrier to commercial borrowing.
In addition to the action that the Department is undertaking, the HEFCE has published its own booklet entitled, "Private Investment in higher education". Copies will be placed in the Library. The FEFC is to publish a booklet about private finance in the further education sector.
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§ Mr. SimpsonTo ask the Secretary of State for Education how many staff at her Department are employed(a) full time and (b) part time on projects undertaken to secure private finance for her Department's projects. [22321]
§ Mr. Robin SquireThe Department has a dedicated private finance unit employing six staff on a part-time basis. Staff in the individual higher education, further education and schools policy branches also work on a part-time basis to encourage private finance in their specialist areas and the information branch includes the private finance initiative within its portfolio.
§ Mr. SimpsonTo ask the Secretary of State for Education what percentage of her Department's budget is allocated to initiatives which have been undertaken to secure private finance for her Department's projects. [22320]
§ Mr. Robin SquireNone. The Department does not have direct responsibility for education sector projects. Its role in the private finance initiative is to encourage the funding bodies, LEAs and institutions to take advantage of the opportunities offered by the initiative. The resources required relate mainly to hospitality and travelling and are a tiny percentage of the Department's budget.
For the 1994–95 financial year, about £101,000 was spent on the preparation and printing of the booklet, "Education means business".